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Investments in Nonconsolidated Affiliates | 12 Months Ended
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May 31, 2025
Equity Method Investments and Joint Ventures [Abstract] |
Investments in Nonconsolidated Affiliates | Investments in Nonconsolidated Affiliates The Company has an investment in an entity that is accounted for using the equity method (“nonconsolidated affiliate”). The investment is included in Other noncurrent assets in the Consolidated Balance Sheets and the equity earnings are included in Equity earnings (loss) from nonconsolidated affiliate, net of tax in the Consolidated Statements of Comprehensive Income. Refer to the tables below for the investment balance that is included in the Consolidated Balance Sheets and for the equity earnings that are included in the Consolidated Statements of Comprehensive Income.
(In millions) | May 31, 2025 |  | June 1, 2024
Investments in nonconsolidated affiliate | $ | 2.5 |  |  | $ | 2.2 |
(In millions) | May 31, 2025 |  | June 1, 2024 |  | June 3, 2023
Equity earnings (loss) from nonconsolidated affiliate, net of tax | $ | 0.3 |  |  | $ | (0.4) |  |  | $ | (0.8) |
The Company had an ownership interest in one nonconsolidated affiliate at May 31, 2025. Refer to the Company's ownership percentages shown below:
Ownership Interest | May 31, 2025 |  | June 1, 2024
Kvadrat Maharam Pty Limited | 50.0% |  | 50.0%
Kvadrat Maharam The Kvadrat Maharam Pty Limited nonconsolidated affiliate is a distribution entity engaged in selling decorative upholstery, drapery and wall covering products. Maars On August 31, 2018, the Company acquired 48.2% of the outstanding equity of Global Holdings Netherlands B.V., which owns 100% of Maars Holding B.V. ("Maars”), a Harderwijk, Netherlands-based worldwide leader in the design and manufacturing of interior wall solutions. The Company acquired its 48.2% ownership interest in Maars for approximately $6.1 million in cash. The entity was accounted for using the equity method of accounting as the Company had significant influence, but not control, over the entity. On October 30, 2023, the Company sold its 48.2% investment in Global Holdings Netherlands B.V. for total purchase consideration of $5.9 million. As part of this transaction, we received cash proceeds of $3.5 million at closing, a $1.4 million receivable under a vendor loan, and $0.9 million of cash held in an escrow account to secure the representations and warranties made to the purchaser. As a result of the sale, a loss of $0.4 million was recorded in Equity (loss) earnings from nonconsolidated affiliates, net of tax during the twelve months ended June 1, 2024. Transactions with Nonconsolidated Affiliates Sales to and purchases from nonconsolidated affiliates were as follows for the periods presented below:
(In millions) | May 31, 2025 |  | June 1, 2024 |  | June 3, 2023
Sales to nonconsolidated affiliates | $ | 2.1 |  |  | $ | 2.1 |  |  | $ | 2.8 |
Purchases from nonconsolidated affiliates | $ | 0.3 |  |  | $ | — |  |  | $ | — |
Balances due to or due from nonconsolidated affiliates were as follows for the periods presented below:
(In millions) | May 31, 2025 |  | June 1, 2024
Receivables from nonconsolidated affiliates | $ | 0.3 |  |  | $ | 0.3 |
Payables to nonconsolidated affiliates | $ | — |  |  | $ | — |

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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 740 -SubTopic 323 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478156/740-323-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a)(3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481687/323-10-50-3 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481687/323-10-50-3 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 323 -Publisher FASB -URI https://asc.fasb.org/323/tableOfContent + Details
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